Moneygram Money Transfer Review

Should I use MoneyGram for money transfers?

  • Global reach
  • Enables Cash pickup
  • Remitting Cash Since the 1940’s
  • Negative Client Reviews on Some Platforms
  • Relatively High Fees Based on World Bank statistics

Is Western Union Safe to Use?

Safe, 9/10

Official Website:

Services Offered by MoneyGram

  • Send Money
  • Receive Money
  • Transfer via Local Branches
  • Cash Pickup
  • Send to a Mobile Wallet
Overall ratingN/A
  • star-0
  • star-0
  • star-0
  • star-0
  • star-0
Updated on Jun 05, 2022
Aggregated User Votes
thumbs-up19,086
thumbs-down4,476

Not Top 10 Ranked

🏆 0 Industry Awards

Where is MoneyGram Available?

Our Top Rated MoneyGram Alternatives

On Money Transfer Comparison, we have reviewed 80+ money transfer services, 40+ of which could be considered direct MoneyGram competitors. View our best rated MoneyGram money transfer alternatives which have received higher ratings below:

EU UK USA Australia Wise (Previously TransferWise): Best to Remit Money Abroad for Cheap
Headquarters:
17 Avenue Marnix, 1000 Brussels, Belgium
86.8% Editorial rating
124,000 Client Reviews
Minimum transfer:
No Minimum - Send From: UK, Europe, US, Canada, Singapore, Japan, Indonesia, Malaysia, Australia, New Zealand
Why Them?
  • Largest Money Transfer Provider of its Kind
  • Fees for Most Routes under £1
  • Fully-Online Journey with Transparent Pricing
+Read more
Australia UK EU USA New Zealand OFX: Remittances Kings of Australia
Headquarters:
Level 19, 60 Margaret St, Sydney, NSW 2000, Australia
90.4% Editorial rating
4,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent, Send From: Australia, New Zealand, UK, Europe, US, Canada
Why Them?
  • Excellent Reach - Transfer to Any Country with no Fixed Fees
  • Intuitive Online System, Easy to Understand and Use
  • 24/7 Support Wherever You Are on The Globe - Be Treated with Respect
+Read more
UK EU Currencies Direct: Best for Large or Repeat Transfers
Headquarters:
1 Canada Square, Canary Wharf, London E14 5AA, UK
97.8% Editorial rating
5,000 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent - Send From: UK, Europe, US, Canada, South Africa, India
Why Them?
  • #1 Rating on MTC for the Past 2 Years - Tailored to Larger Transfers with Excellent Phone Service
  • No Fees on any Transfers, Ever
  • Very Friendly Online Platform
+Read more
EU UK USA Australia One of the Hottest Money Transfer Startups
Headquarters:
Colm House, 91 Pembroke Rd, Ballsbridge, Dublin, Ireland
86.8% Editorial rating
5,000 Client Reviews
Minimum transfer:
No Minimum - Send From: UK, Europe, Australia, Hong Kong, Singapore
Why Them?
  • No Fees on GBP payments, EUR Charged at €3
  • Very Low Margins, Down To 0.33%
  • Great Reputation And Client Reactions
+Read more
UK Netherlands Azimo: Fees from £0.99, 4.6/5 on TrustPilot
Headquarters:
Milton Keynes Buiness Centre Foxhunter Drive, Suite 140 Milton Keynes, MK14 6GD United Kingdom
77.0% Editorial rating
51,000 Client Reviews
Minimum transfer:
£1
Why Them?
  • Very well known
  • Good online system
  • Tight margins
+Read more
UK Germnay Turkey TransferGo: Rated 4.8 / 5 from over 22,000 reviews
Headquarters:
241 Southwark Bridge Rd, SE1 6FP, London, United Kingdom
72.0% Editorial rating
22,000 Client Reviews
Minimum transfer:
No Minimum, Remit from UK and Europe to over 65 destinations.
Why Them?
  • ltilingual Support Team
  • Excellent Client Feedback
  • Over 2.5 million Customers to Date
+Read more

Is MoneyGram Safe?


Company size:  

Moneygram is a money transfer giant and has played a substantial role in the history of money transfers.

The US-based business was founded in 1940 to deliver money orders. As its brand name expanded in the 80’s and 90’s, the problem of remittances became a real concern for the global economy, and there were very few competitors in the field (the biggest competitor that comes to mind is Western Union). Back in those pre-internet days, you had to have a local presence to handle anyone’s money, and Moneygram has managed to pull off that task successfully. Today, Moneygram has one of the most extensive global reach in the industry (together with WU), boasting 347,000 agents across the globe.

The company has suffered some downturns during its long history. The 2008 subprime crisis had hit it with a full impact crash to take its stock to oblivion, and a $100m fine for fraud a few years later didn’t help.

 

During 2017, Ant Financial  made an offer to buy Moneygram for a sum of $1.2bn. Ant Financial is a Chinese company owned by the Alibaba group (formerly named AliPay), and being that, considering the US-Chinese tensions in 2017, the deal was blocked by the U.S government. Ant Financial ended up buying indirect competitor WorldFirst.

In 2018, Moneygram announced it will be integrating Ripple into its payment system, which may be the way forward for this company. Ripple is the most payment-oriented cryptocurrency.


Regulated By: 

Almost any financial regulator across the globe, including the American SEC and the British FCA.


Conclusion: 

Moneygram is one of the biggest, strongest, and most resilient companies in the money transfer space, for good or worse. It has a fascinating history filled with glorious achievements alongside crashes and falls.



MoneyGram Customer reviews


Research:

There are thousands of Moneygram reviews across the web, and there are dozens of comments left by our visitors.

We focused on the largest and most recognisable user review platforms, and discovered client reviews as follows: 41 on Consumer Affairs (who only show the most recent, this used to be in the hundreds), 3,439 on TrustPilot UK, 10,503 on TrustPilot US, 146 on Yelp.

The ratings were as follows:

  1. Consumer Affairs – 1 Star out of 5 Stars available. The lowest rating that can be achieved on the platform.
  2. TrustPilot – 4.3 Stars out of 5 Stars available on both the UK and US pages. It looks like Moneygram has run an initiative to boost its score, as the positive reviews have been invited whereas the negative ones haven’t.
  3. Yelp – 1 Star out of 5 Stars available. The lowest rating that can be achieved on the platform.

In total, it’s strange to see such different experiences across three different review platforms. We can see from a notification next to the review on TrustPilot that the users who have left positive ratings have been invited by Moneygram to leave a review. So it’s possible that Moneygram has only notified loyal customers to leave a review. There’s nothing specifically wrong with that of course, these are still real customers who have had a real experience with Moneygram but it’s possible it does not incorporate the feedback of a wider sample of Moneygram users.

Positive:

The vast majority of positive reviews are on TrustPilot. 80% of UK users reported a positive experience with Moneygram and 77% of US customers did.. They indicated the following positives with the company:

  • Good service
  • Inexpensive
  • Easy to transact
Negative:

13% of the TrustPilot UK ratings are negative and 17% of the TrustPilot US are, virtually all of the reviews on Consumer Affairs and Yelp are complaints. The negative feedback covered many aspects, including:

  • Quality of service
  • Cost of transfer
  • Responsiveness of company / agent
  • Safety and Security
  • .. and many more…

Conclusion:

Based on the research we have conducted, there is a real mixed bag of reviews telling us very different things about the company. The situation is similar to Western Union, the only company which is really comparable to Moneygram but we have to say Moneygram feedback just about edges them for positive customer experiences.

Some of the angst directed at Moneygram may be unjust. Perpetrators are using Moneygram’s service for money transfer scams but there is little the company can do in that regard. Additionally, some clients may have unrealistic expectations.

Moneygram’s TrustPilot ratings have really improved over the years and it appears for many the service is working just fine, providing an efficient and reliable service. That being said, we shouldn’t look past the many negative reviews either. Even though the TrustPilot score has drastically improved, there is still a much greater proportion of complaints than providers like CurrencyFair and Wise.



MoneyGram Exchange Rates & Fees


Research: 

We can say Moneygram shows good ethics by presenting a cost calculator on their website. It makes figuring out the exact costs easier than with other companies. It seems to be a more prominent feature with companies who have a remittance focus as the only other companies on the market showing this type of feature at the moment are Wise (Transferwise), Currencyfair, Azimo, Western Union and World Remit (from the ones we have reviewed to this point).

Fees & Exchange rates:

The team at MoneyTransferComparison.com have tested some of the most common currency exchanges with Moneygram, and also used the World Bank to compare smaller sized transfers/remittances and figured out the rates offered are sub-par. In some corridors for small transfers they are more competitive, and what we’re seeing is less than Moneygram charged a few years ago, suggesting they have became more aware of increasing competition, but they are still expensive.

If you look at the ever-popular corridor of Pound to Dollar, you could see that on August 6 where the rate was 1.3875, Moneygram’s offered rate was 1.3517, suggesting a 2.5% markup on a very popular currency and a rate that is no better than a bank.

If you check for remittance countries like Romania, the World Bank claims Moneygram is as much as twice as more expensive than Wise (Transferwise) but surprisingly the cheapest way to pay both 120GBP and 300GBP to RON (August 2021 tested) was WU.com, Moneygram’s direct competitor.

Limits:

Users may send up to $2,500 daily, using Moneygram’s online service. $9,999 is the limit for agent office transfers. $899 is the daily limit for Moneygram mobile app transfers.

These are the limitations for private clients, but we presume there are no limitations for its corporate clients.


Conclusion:

If your aim is to save money, you should shop around and check alternatives, if they are available in your area. Moneygram has a lot more global reach than some of the relatively smaller competitors, so there might not be any cheaper alternatives; but based on the sampling we have conducted, there would be cheaper alternatives when moving money from the UK, USA, the EU, Australia and New Zealand for most destinations.



MoneyGram Global Reach & Service


Research:

  • Dedicated Dealer: Moneygram does not offer dedicated dealers for private clients. The company’s business is remittances rather than small businesses or wealthy expatriates.
  • Offices: There are hundreds of thousands of agents spread across the globe.
  • Ways to approach: Online, via email, telephone or get to a branch/agent.
  • Translations: Yes, Mongeygram.com is translated to a multitude of languages.
  • Accepts clients: Worldwide.
  • Currencies Handled: 58 online, possibly more available on specific branches or with specific agents.
  • Client reviews: The reviews we have collected represent a vast spectrum of very disgruntled clients and some who are receiving a perfectly good service.

Conclusion:

Moneygram is one of the most international companies out there. They have built a network of agents over 8 decades and have far more banking relations and understanding of the money transfer business than any of the newcomers.

The firm’s website is translated to multiple languages, and clients are accepted worldwide in the truest sense of the word, as many of their competitors claim to be global but have nowhere near this sort of reach.

As many of our readers are moving substantial amounts of money each month it should be noted that Moneygram is a remittances service. Its greatest advantages like accepting cash transfers and moving them, in cash, to locations like Africa, South Asia and Eastern Europe, are not applicable for readers who seek to move a hefty salary abroad or make a large purchase.



Additional Functionalities

For businesses: 

Moneygram has a Corporate website which enables small, medium and large businesses to conduct their foreign exchange affairs there. It is stated on the website that corporate clients can have access to spot contracts, forward contracts, limit orders and other hedging tools.


App:

Moneygram has mobile apps for iPhone and Android devices. These applications provide all the functions of the website to mobile users. These apps are rated 4.3 / 5 on the Google store and an impressive 4.8  / 5 on the Apple Store. A really well reviewed app that has been downloaded millions of times.

Review Summary
50%
50 of 100 1 review
  • Credibility Score - 80%
    80%
  • Client Feedback - 60%
    60%
  • Fees, Exchange Rates - 30%
    30%
  • Global Reach, Availability, Service - 40%
    40%
  • Added Values - 40%
    40%

Bottom Line

Moneygram has serious advantages in the form of very wide global reach and 80 years of reputation. The website is seamless to use, the rates and fees are clear and transparent and you can transfer money by debit card, bank transfer or in cash (through a branch).

On the downside, Moneygram’s online fees are worse than competitors, with a whooping 2.5% markup on a £1,000 GBP-USD transfer, and you can send only up to $10,000 per transaction. As a whole, the company is not suitable for customers who want to larger amounts of money to popular destinations, because Moneygram’s rates are nowhere near competitive for that.

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Mike Stidham
4 years ago

When attempting to wire money to a friend in Thailand on-line, I received an error message. Therefore, I called in and was told that I could not send money. When I inquired as to why, I was transferred to a supervisor who very rudely told me that Moneygram did no want my business, and that he was under no obligation to tell me why. Flabbergasted, I went on Western Union and was able to wire the money within minutes. I was mostly taken aback by the rudeness of the ‘supervisor’, and how dismissive he was in telling me that my… Read more »

William
3 years ago

I used MoneyGram as I have done no less than 100 time before to send money internationally on the 15th of May 2019. Today, 4 days later, I was informed that the transfer had been cancelled by MoneyGram. I call to find out the reason since I suspected that they we accusing my of some international money transfer fraud. They refused to give me a reason and told me that in the future I would have to use another service. When I tried to log on to my MoneyGram account, it had been deleted. To make matters worse, they have… Read more »

Chemz Eddine
1 year ago

Mediocre customer service. Even after you have uploaded tons of documents on their website you need to call them and answer tons of questions. Sales reps speak Hindi and very bad English you have to spell everything. High fees. Horrible company to me. To be avoided

Hipp
6 years ago

MoneyGram is a joke. I am a merchant and, for unknown reason, they asked me to remove their logo from my website and stop using their services, even that I gave them business over the years by receiving amounts of USD from my customers. Why would they cut a tree branch on which they are sitting? Naturally, since then I boycott MG.

Mary Nduku Thuo
6 years ago

Good Evening, You need to re-emburse me my money that has not been picked up by the receiver as intended in form of a cheque. I need to send you a copy of my British Passport for identification in order to obtain my refund. Therefore, advice me on on the safest way to do this. I sent this money in 2013 but I can not remember the name of my recepient because I sent money to many members of my family depending on need. But am sure you have got the details as expected. The Reference Number for this transaction… Read more »

Marianne
6 years ago

Hello, I have 2 questions. A) last week I wanted to send 2500$ to my country in South America. This was a Monday. The next day I wanted to send to a different person the same amount. The lady at the agency (the same one who took care of me in Monday ) knowing of my transaction before asked me for my social security number. And I knew they only ask you for this document of the transfer was more that 3000$. Why she asked for my SS if this were 2 completely different transaction for 2 different persons .… Read more »

caroline thompson
6 years ago

I would like to know the problem that is happening in Trinidad with moneygram does it affect customers sending money from triidad to England in tt dollard. I would like to know

Bev
6 years ago

I would just like to no how many numbers r in the reference number given when u send money via moneygram as after reading the negative comments i want to make sure i get everything properly done before sending my money tomorow..
Thankyou

Stephen Ryan
5 years ago

NIGHTMARE AND GAMES…
ONE of their kiosks ate 2 one hundred dollar bills…My rent money for Mexico.

I borrowed money and sent it at a check cashing store. Wasted a whole day
1) because no one wants to fix the machine
2)rude rude rude from support to supervisorsee
3) they found the money the NEXT day
4) instead of apologizing I GET THIS RUSSIAN BROAD CUTTING ME OFF FROM USING MONEYGRAM!!!!
I had nearly 200 dollars in credits from my 8 years of use.

RUDE RUDE RUDE …

PATCH their exchange rates!!

R J Brewster
5 years ago

I have wasted a complete morning and half the afternoon trying to send £500 to my nephew in Spain. Four attempts later, the transaction has been declined again. The very first time I was told it was my bank was refusing payment. Not so. After going round in circles on the phone I was told to do another. I did. Refused again. And again later. I then spoke to their staff and was told it was a security question that needed answering, which I did and was told the payment had been cleared and received an email saying so. I… Read more »

roz
5 years ago

Does money gram work with the bank rate of the country their in, when dealing with money gram transfer or are the agents allow to charge Black market fee per dollars as is happening in Trinidad and Tobago, where the bank rate is still $6 plus per 1us dollar while they charge $8 plus when exchanging TT for US on a money gram transfer to the US , what gives??????

Elaine
5 years ago

MONEYGRAM Is a joke of a company, they are not customer friendly and very disappointed with the so called service. I sent my husband a transfer but forgot to add his middle name to it, he couldn’t pick up the money so asked if I can amend the transaction they said no so I asked for a refund they said it will take between 3-10days for my account to be credited, now I asked this is in emergency they said they can not help! What is the use of having an account for so long if the company can’t help… Read more »

Jules
5 years ago

I have never used this service prior to today. I called, asked how long it would take for the recipient to get the money. I was told ten minutes. It cost me almost $100 to send the money. I called the recipient to say it had been sent. It was crucial to get the money there right away. I explained to the person I dealt with on my end, who I was sending it to and why. Gave ID, names addresses, etc. 45 minutes later it was still not available to this person. I called the office, which by the… Read more »

Ruth Urieta
5 years ago

My sister sent money 2 weeks ago to Panama, several times the receiver went to pick up the money, and their answer is than they are out of money. I don’t understand whats going on, they dont even give you an excuse. How they can run out of money.. Very inefficient companies, they shouldn’t be open, is ridiculous.

Eve
5 years ago

I have used Moneygram services for the first time recently and have experienced a fraud. I’ve lost hundreds of pounds and after trying to report a fraud for 2 weeks I finally got a call from them where they basically just said you will not get a refund and go talk to police if you want because it’s not our problem. After reading more into the company it’s clear that this company doesn’t have the right security processes in place and they really don’t care about individual customers losing their money, as they get their own fee and leave you… Read more »

Carmel
4 years ago

A complete farce of a service. I needed to receive some money from my father. I spent hours going to five different MoneyGram agents: four of them the person responsible was on holiday or their connection with MoneyGram was not working! The fifth one made me fill in their forms, went through my ID and then said they could give me my money because the sender’s name was not spelled correctly on my form! As other reviewers all over the internet have said, MoneyGram and their network of mainly dodgy backstreet agents will use any and every excuse to NOT… Read more »

val
4 years ago

Our client from the US sent us money for payment of the tropical fish he purchased, around $2,000. MoneyGram stole the money! According to MoneyGram, the money was withdrawn from an affiliate branch of theirs here in the Philippines – we tried to ask for more information but they shut us down. They said that the sender needs to get the information from them so we asked our client to do so. All MoneyGram said was the person who claimed the money filled out a receive form and presented and ID and MoneyGram closed the case!! They are not responding… Read more »

MJ
3 years ago

I am currently now in Memphis. My sender sent money to the Philippines, Can I get the money here in Memphis? How many days that money stay in moneygram?

Laila
2 years ago

**In English & German / auf Deutsch unten** Please read it carefully before you embroiled in MoneyGram. I’ve transferred 1200.- EUR to my wife (within Germany), but when she tried to receive the amount, MoneyGram agent claimed that someone else has already received it. So that, I complained & escalated to MoneyGram that an unknown person has taken the amount. Unfortunately, their investigation was neither professional nor serious as it implemented something else. The outcome said that the one who received the amount gave them the name, transfer Reference number verbally & received the amount accordingly. How come they never… Read more »

Michelle
1 year ago

PSA: Don’t use this company! Alternatives such as Western Union, PayPal – literally ANY other competitor will be better. They have “lost” my transaction. Customer service is non-existent; most of the representatives don’t know what they’re talking about and will send you on a wild goose chase to pickup locations – which their website isn’t correct about which locations offer their services. 90 days is an unacceptable amount of time to find out what is going on with an etransfer, let alone receive it. Any time you’re transferred to a manager, the call is conveniently dropped. My client paid $10… Read more »

Hani
1 year ago

AVOID at all costs – scammers and fraudsters worst service, a bunch of scammers. sent money through my card from their agent location in person, gave them all my ids, charged my bank for £2500 and then totally queit. chased them next day to hear that they want me to upload my id which i did and system confirmed id was uploaded successfully. checked in the evening to see the same message – additional information required. called them and uploaded id again – confirmed by the representative. also verified the identity of the receiver. done and dusted according to the… Read more »

Gene
4 years ago

I Went to money gram to wire x amount of money due to funeral overseas, the clerk processed transaction and said that funds will be available in 10 minutes, because of the time difference, a relative overseas went to the bank to receive the transfer next morning and was told by the money gram overseas that there was NO transfer. You need to realize that i had no idea that the money were Not transferred. The only way i found out because i called my relative overseas to find out if everything was going good with the funeral etc., –… Read more »